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Forecasting in Hotels starts with making a Budget

Written by Patrick Landman @ Xotels on .

The budget is indeed your first forecast. But how do we make an accurate forecast for a hotel? To do so we will be discussing the following elements; unconstrained demand, stay patterns, booking pace

Hotel Revenue Management Action Steps 2

Written by Patrick Landman @ Xotels on .

Based on the previous articles on the components of revenue management, KPI, market segmentation, yieldable and non-yieldable business and displacement calculations have defined a few simple action steps for hotels.

Displacement Calculation

Written by Patrick Landman @ Xotels on .

Are your contracted non-yieldable segments adding to your bottom line? Or are they displacing revenues that can be generated by selling public transient rates?

Yieldable vs. Non-Yieldable Segments

Written by Patrick Landman @ Xotels on .

How much of your business is yieldable? And how much of your business in non-yieldable? Or how much of your business allows you to really apply revenue management?

Hotel Market Segmentation

Written by Patrick Landman @ Xotels on .

One of the components needed to apply hotel revenue management is market segmentation. It allows you to target and market to a variety of consumer groups with different behavior with an offer that matches their needs and budget level.

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